Washington (TDI): US President Donald Trump has revealed that a group of affluent investors is prepared to acquire TikTok, the Chinese-owned social media giant currently facing a ban in the United States over national security concerns.
In a TV interview, Trump said, “We have a buyer for TikTok, by the way. Very wealthy people. It’s a group of wealthy people.” He declined to offer specifics, saying only that he expects to publicly identify the buyers “in about two weeks.”
Trump also acknowledged that approval from Chinese authorities may be required to move the deal forward. “I think President Xi will probably do it,” he added, referring to China’s President Xi Jinping.
Read More: Trump Supports Delaying TikTok Ban
TikTok, owned by Beijing-based tech firm ByteDance, has been under intense scrutiny from US lawmakers who argue the platform poses a national security threat due to its ties to the Chinese government. A law mandating either the app’s sale to a non-Chinese entity or its outright ban was set to come into effect the day before Trump’s inauguration in January. However, the president chose to delay implementation.
Back in June, Trump extended TikTok’s deadline by an additional 90 days, granting the platform more time to arrange a sale to American or allied buyers.
Read More: Trump Asks Supreme Court to Delay TikTok Ban
The move highlights the ongoing tech standoff between the United States and China, as both countries jockey for dominance in the digital and data economy. Experts have said the TikTok saga has become a flashpoint in that rivalry.
While Trump was once a vocal advocate for banning TikTok, he has since shifted his stance, citing the platform’s growing popularity among young Americans. During his 2024 presidential campaign, which leaned heavily on social media outreach, TikTok played a role in helping him connect with younger voters.
“I’ve got a soft spot for TikTok,” Trump told NBC News in May. “If it needs a little more time, I’m willing to give it.”
Farkhund Yousafzai is an Associate Editor at The Diplomatic Insight.
